State Farm Estimatics Exam (2024/2025) Questions with Verified Correct Answers || Already Graded A+ <BRAND NEW VERSION>
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Course
State farm estimatics
Institution
State Farm Estimatics
State Farm Estimatics Exam (2024/2025)
Questions with Verified Correct Answers ||
Already Graded A+
<BRAND NEW VERSION>
A room is 15' 3" long, 13' 5" wide with a ceiling height of 8', and the following
openings:
Patio door 6'0" wide x 6'8" high
Entry door 2'6" wide x 6'8" high
Wind...
State Farm Estimatics Exam (2024/2025)
Questions with Verified Correct Answers ||
Already Graded A+
<BRAND NEW VERSION>
A room is 15' 3" long, 13' 5" wide with a ceiling height of 8', and the following
openings:
Patio door 6'0" wide x 6'8" high
Entry door 2'6" wide x 6'8" high
Window 1 5'0" wide x 6'0" high
Window 2 3'0" wide x 6'0" high
How many square feet (SF) of drywall are on the walls and ceiling?
Select the single best answer:
A. 388.70 SF
B. 458.72 SF
C. 593.36 SF
D. 588.75 SF - ANSWER ✔ B. 458.72 SF
A room is 15' 3" long, 13' 5" wide with a ceiling height of 8', and the following
openings:
Patio door 6'0" wide x 6'8" high
Entry door 2'6" wide x 6'8" high
Window 1 5'0" wide x 6'0" high
Window 2 3'0" wide x 6'0" high
How many LF of baseboard are in the room?
Select the single best answer:
A. 51.34 LF
B. 57.34 LF
C. 50.00 LF
D. 48.83 LF - ANSWER ✔ A. 51.34 LF
,In the Price List, the paint code, PNT P, does not allow for removal of switch and
outlet covers, dropping light fixtures or moving items away from walls.
TrueFalse - ANSWER ✔ False
In the Price List, the price to remove and replace a turbine type roof vent is:
Select the single best answer:
A. $61.75
B. $60.39
C. $57.50
D. $66.95 - ANSWER ✔ 66.95
In the Price List, the price to replace a roof mount power attic vent is:
Select the single best answer:
A. $206.35
B. $220.82
C. $217.66
D. None of the above. - ANSWER ✔ 206.35
what is not true about an aleatory contract - ANSWER ✔ in an aleatory contract,
the amount of benefit to the insured and insurer is equal.
what does D.I.C.E stand for? - ANSWER ✔ declarations page (and definitions),
insuring agreement, conditions and exclusions (and endorsements)
'we will provide the insurance described in this policy in return for the premium
and compliance with all applicable provisions of this policy.' in which section of
the insurance policy might this statement be found? - ANSWER ✔ insuring
agreement
in which section of the policy might you find the following statement ? 'damage to
insured property must be reported within 15 days of the damaging occurrence.' -
ANSWER ✔ conditions
which of these causes of loss is least likely to be covered by a typical insurance
policy? - ANSWER ✔ nuclear hazard
edna loses some of her property in a hailstorm. when an adjuster comes to
investigate the loss, he gives an estimate that edna thinks is far too lowl. as
,negotiations continue, neither edna nor the adjuster will budge. where in Ednas
policy would you find the procedure to follow in this situation? - ANSWER ✔
conditions
conditions - ANSWER ✔ lists requirements that the insured must meet for
coverage to apply
declarations - ANSWER ✔ information that makes the policy unique to a specific
insured.
exclusions - ANSWER ✔ causes of loss or items of property that are not covered
by the policy
endorsements - ANSWER ✔ add, reduce, or change the coverage of the policy in
some way
definitions - ANSWER ✔ explains exactly what specific words mean in the
context of the policy
insuring agreement - ANSWER ✔ the essence of the contract. often only a single
sentence
Xavier owns a small insurance company. recently the company won a bid to
insure a new housing development in Omaha, NE. his company can hangle any
claims that arise, but if a series of tornados were to tear through the area,
destroying the entire development, Xaviers company would be hit extremely hard
financially. which type of insurer could help Xaviers company protect itself the
most from this potential loss? - ANSWER ✔ a re-insurer
what type of insurance provider operates on a for-profit basis? - ANSWER ✔
mutual insurance companies
what type of insurer sells shares to the public and is owned by its shareholders -
ANSWER ✔ a stock insurance company
publicly traded acme insurance is listed on the new York stock exchange, and
would therefore be considered - ANSWER ✔ a non-participating insurance
company.
, stock insurance companies - ANSWER ✔ always for profit, publicly traded, 'non-
participating' insurers: no dividends go to policy holders
mutual insurance company - ANSWER ✔ owned by policy holders (no
shareholders), elect board directors, participate in dividends
re-insurer - ANSWER ✔ an insurer that provides insurance for other insurers
reciprocal insurer - ANSWER ✔ a group of ppl or organizations that insure each
other. always non- profit.
government insurer vs private - ANSWER ✔ government: mandatory, run by
government, suited to needs of general public
private: offer insurance products based on customer preferences
commercial insurer vs non-commercial - ANSWER ✔ commercial: runs for profit
non-commericial: non-profit; pass gains on to policyholders
stock insurer vs mutual - ANSWER ✔ stock: publicly traded; stockholders
participate in dividends (non-participating)
mutual: no stockholders; policyholders participate in dividends (participating)
reciprocal insurere - ANSWER ✔ group of people or organizations that insure
each other
re-insurer - ANSWER ✔ insurance for insurers
fraternal benefit society - ANSWER ✔ non-profit, mutual aid organization that
will usually offer insurance benefits to members and their families
risk retention group - ANSWER ✔ a form of insurer in which the members use
their own capital to write insurance policies
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